“Unlike Western investors, who come to Romania to make a profit, we try to help people. The authorities must take measures to stimulate the local market and recruit people. We are waiting to see what the government will do. If it does not help us, we will initiate a restructuring process. We will cut activities to two from ten,” Ioan Micula told Business Standard.
Moreover, the company official said a few months ago that the number of employees will drop by a few thousand, due to the financial crisis. At present, the group has some 10,000 employees.
Micula said that the access of companies to loans is becoming increasingly more difficult, and interest rates applied by banks operating on the domestic market, generally over 20 percent, are much higher than interest in other countries.
